OFFICIAL CLICO THREAD

[Trinifieds]

Interesting train of thought. Lets hope this $8bn doesnt cause something else to come crashing down..

[evo-STI-k]

Well govt had already realised that they are falling short of their budget by 7 billion, now with an Eight Billion bail out!

which part of trinidads economy will they cut 15 billion from?

Lets sit back and see what the idiots do!

Oh and Not lets NOT forget the comission of inquiry how much millions is being paid to legal fees, and the Overwhelming SUMMIT, that many IDIOTS in trinidad figure will actually Help us!

By MID year- Trinidad will be in a state of Panic!

[ronsin1]

Is their a connection between Guardian Holdings and RBTT?

GHL and a 20% interest in RBTT but it was sold to Royal Bank of Canada last year when RBC offered to buy out all share holders.

note N&M in no longer in the insurance busniess with the tradin going on as it is we just might see a N&M buying shares in RBL

[tr1ad]

anyone can take their money out of CMMB, but there is no need, initial investment guaranteed 100%

"CMMB-Intelligent Investing"

[ray d saint]

anyone can take their money out of CMMB, but there is no need, initial investment guaranteed 100%

"CMMB-Intelligent Investing"

u wuckin deh orr......

[tr1ad]

i bullin ah gyal dey

[ronsin1]

^^^ on comment

[eliteauto]

i bullin ah gyal dey

she know that?

[ray d saint]

i bullin ah gyal dey

she know that?

ohhh phoq!!!!

[tr1ad]

i bullin ah gyal dey

she know that?

i eh kno nah


next time i will not drug her drink and find out

[ronsin1]

^^^ dais not the story I heard from you the other day you told me she druged you.

[eliteauto]

^^^ dais not the story I heard from you the other day you told me she druged you.

yea but Viagra legal

[tr1ad]

once is only half of da pill

[eliteauto]

whey meh juzzy boi

[ray d saint]

whey meh juzzy boi

nex ting he bring a FCB juzzy fuh yuh.....

[tr1ad]

ah arsk yuh which one yuh want


i have all, polo or regular smedium juzzy yuh want

[jaceson]

did the government ever disclosed fully what they will be cutting spending on for the 2009 budget?
remember the pm declared that the govt will pay for tuition up until phd...well from what i hearing that aint happen again..........

[eliteauto]

tr1ad, gimme a Polo that go look good when I standing outside dem all inclusive I cyah afford to attend

[soundboy101]

Can someone explain, why Duprey signed a MOU with the government and now he looking for lawyers in england to challenge the same MOU, saying its not a bailout, but rather a takeover, these people just playing with poor peopel monies. Dont talk for that bag of goons in Parliment, if them minister had known CIB going down and rush to take out they money, how we could feel comfortable if them wasnt even comfortable leaving their money

[eliteauto]

^^Valid questions, the new "manager" of CLICO takes up duty @ 9AM today

[soundboy101]

also what if the legislation does not get passed, what happens next, they start to liquidate some assets to pay off depositors?

[aR&D]

Karen made a stmt that EVERYONE knew CIB was in trouble long before it was made known in the press conf ...... really?!!

Karen said she withdrew the little bit of money from CIB and CMMB to buy a car and an apartment for her offspring. how come only does two? And i guess her little bit is on a different level to the citizens little bit.

Karen said her sibling withdrew 2+million of her deceased maternal-unit investments from said companies last Nov. How come?

Karen said none of her political party collegues knew nothing of the troubles yet many of them, including Eww-wart, withdrew their monies.

[pugboy]

allyuh feel Duprey just sitting back and relax ?
for them fellas this is a chess game using other people money as the pieces

he should not have been allowed to speak at the press conference,
especially as there was probably no due diligence and nobody knows what really going on inside there

[drunkenscorpion]

Can someone explain, why Duprey signed a MOU with the government and now he looking for lawyers in england to challenge the same MOU, saying its not a bailout, but rather a takeover, these people just playing with poor peopel monies. Dont talk for that bag of goons in Parliment, if them minister had known CIB going down and rush to take out they money, how we could feel comfortable if them wasnt even comfortable leaving their money

The MOU signed was to ensure liquidity was injected in the company in the event that the run on CLICO kept up. This by selling CIB and CMMB.The "run" however came as a result of STATE RUN entities pulling out their investments.......why? CIB had liquidity problems stemming from the fact that alot of foriegn institutions pulled out given the state of their own affairs abroad. CLICO stepped in and was managing the cashflow crisis there, but just barely, putting CLICO at a risk themselves. Why then did NGC and others pull their investments at the same time? Where else would this directive come from other than the gov't? Essentially to pull down the company, and then step in to take over.

Alot of information still has to reach the media.....when it does....then everyone will realise the type of people we have in power. Soon there would be no such thing as the private sector.

[SR]

this is what the majority of people are missing


the pulling out of state run institutions all at around the same time period.........

as well as government ministers closing thier investments "all coincindenlty maturing at the same time in december"


smart move by anyone looking to take advantage of the economic crisis
especially when you are already in control of the economy locally

its called corporate takeover by whatever measn necessary

once in control the govenrment agencies can now re invest under new portfolios as they already now control the entire organisation
and now funds can be moved within the organisation as it see's fit to benefit themsleves

ie money to continue funding government projects that should have either been stopped or cut back due to the budget cutbacks because of the falling price of oil

in other words

everything gonna go full steam ahead

the other interestign part is calder harts involvment with NIB what impact does that now have as his company is under "investigation" for corruption

[drunkenscorpion]

the other interestign part is calder harts involvment with NIB what impact does that now have as his company is under "investigation" for corruption

None.....just look at who is in power

[aR&D]

As DrunkenScorpion correctly analyzed:

The MOU signed was to ensure liquidity was injected in the company in the event that the run on CLICO kept up.

So the MOE was for a line of credit by the government to CL and not the hostile PNM-government take-over that is occurring.

[drunkenscorpion]

Former Central Bank Governor Euric Bobb appointed new CLICO chairman
BREAKING NEWS
By Curtis Rampersad


The Central Bank has appointed a new Board of Directors of insurance company CLICO. Former Central Bank Governor Euric Bobb is the new chairman of the CL Financial subsidiary which Government took control of last Friday.
Other Board members include CL Financial executives Claude Musaib-Ali and Caroline John. Unit Trust executive director Marlon Holder and development consultant Anthony Watkins are the other members.
Central Bank Governor Ewart Williams said this morning that the Bank interviewed the appointees on Saturday.
Government did not participate in the interviews but was asked to approve the appointments along with CL Financial as part of the Memorandum of Understanding signed to enable the State to provide funding for, and take control of CL Financial subsidiaries CLICO, CLICO Investment Bank, British American Insurance and brokerage house CMMB. Williams said on TV6's Morning Edition that the Central Bank selected the Board, then sent a letter with the names of appointees to Finance Minister Karen Nunez-Tesheira. "We got a note from the government saying 'go ahead'," Williams said.
In return for the provision of funds from Government to depositors and policyholders, CL Financial agreed in the MOU to divest some of its assets including its 55 per cent stake in Republic Bank, the country's largest commercial bank.

CL Financial chairman Lawrence Duprey was said to have been meeting with the Central Bank this morning.

http://www.trinidadexpress.com/index.pl ... =161434503

[nismoid]

As DrunkenScorpion correctly analyzed:

The MOU signed was to ensure liquidity was injected in the company in the event that the run on CLICO kept up.

So the MOE was for a line of credit by the government to CLICO and not the hostile PNM-government take-over that is occurring.

fixed